France’s Total SA is planning to build a giant petrochemical complex that will be integrated downstream with SATORP, its Jubail-based joint venture with Saudi Aramco, the two companies said in a statement.
In total, $9 billion will be invested in the project, adding 8,000 local direct and indirect jobs. The plant will produce more than 2.7 million metric tons of high value chemicals, the statement added.
“This project illustrates our strategy of maximizing the integration of our large refining and petrochemical platforms and of expanding our petrochemical operations from low-cost feedstock, to take advantage of the fast growing Asian polymer market," said Patrick Pouyanné, Chairman and CEO of Total.
The project will be located next to SATROP refinery in the same industrial area, and will comprise a world-size mixed-feed steam cracker (50% ethane and refinery off-gas) with a capacity of 1.5 million tons per year of ethylene and related high-added-value petrochemical units.
The cracker will feed other petrochemical and specialty chemical plants, accounting for an overall $4 billion investments made by third parties, the statement said.
The French oil producer will ask other companies to participate in the project.
Aramco and Total are planning to start the front-end engineering and design (FEED) in Q3 2018.
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